In his next bout, Cazares lost the WBO junior flyweight title by split decision to Iván Calderón in Calderon's home territory of Puerto Rico.
Cazares lost the rematch by technical decision in the 7th round after Calderon sustained a cut from an accidental clash of heads.
The two faced off in a rematch, this time Cazares defeated Nashiro by unanimous decision as he captured the WBA Super Flyweight title.
After Hugo's defeat to Tomonobu Shimizu, he won five fights in a row over Adnan Garcia, Daniel Diaz, Rey Perez, Gabriel Altarejos and Julio César Miranda.
On 4 April 2014, Cazares came to undefeated Carl Frampton's home city of Belfast in Northern Ireland and faced him in a final eliminator for Leo Santa Cruz's WBC Super-Bantamweight World title, in the Odyssey Arena in front of an estimated crowd of 9,000 fans.